If your foundation damage is the result of a covered risk-such as a tornado, explosion, or fire-your homeowner’s policy may reimburse you for the repairs up to your coverage limits. Check your policy's declarations page to see what perils are named.
Most carriers consider the conditions that contribute to foundation damage to be avoidable by keeping up with home maintenance and controlling conditions that can lead to flooding or inadequate drainage.Ī typical homeowner’s policy covers your house only against specific, identified perils. The most likely causes of foundation damage, such as soil expansion and contraction or poor construction, are typically excluded from most insurance policies (see table). DOES HOME INSURANCE COVER FOUNDATION REPAIR?
But if you think your homeowner’s insurance will foot the bill, you could be in for an unpleasant surprise. Depending on the extent of the damage and the method of repair, you could be looking at a bill of up to $15,000 (See: Foundation Repair Cost). Will Your Homeowner’s Insurance Cover Foundation Repair? Find out if your insurance policy will help pay for foundation repairs By Anne Balogh, columnistĬracks, settlement, and other types of damage to your concrete foundation are not only serious to the structural integrity of your home, they can also be very expensive to repair.
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